Millennial Home Buyers in Illinois
A "lot for sale" sign stands along side a housing lot in Des Plaines, Ill., Sunday, March 21, 2021. U.S. long-term mortgage rates continued to edge higher this week as the benchmark 30-year loan stayed above the 3% mark. Rates remain near historic lows, however. (AP Photo/Nam Y. Huh)
When it comes to buying a home millennials, those born between 1980–1994, face a lot of obstacles. It’s not expensive avocado toast or oat milk lattes getting in the way of putting down a downpayment, as some older commentators would have you believe, though — it's debt. Specifically student loan debt. The Illinois Housing Development Authority (IHDA) has a plan to help.
To speak more about the issue and IHDA's plan to help, The 21st was joined by a real estate agent with Coldwell Banker in Chicago and member of the Chicago Association of Realtors as well as the executive director of the IHDA.
Guests:
Mabél Guzmán, Real Estate Agent with Coldwell Banker in Chicago, Member of the Chicago Association of REALTORS®
Kristin Faust, Executive Director for the Illinois Housing Development Authority (IHDA)
Prepared for web by Zainab Qureshi
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